Roman Ziemian, co-founder of the cryptocurrency platform Futurenet, was arrested in Montenegro for allegedly orchestrating a $21 million cryptocurrency fraud scheme. The arrest was part of an international law enforcement operation involving Montenegrin authorities and Interpol. Ziemian, who was living under a false identity in Podgorica, now faces potential extradition to either Poland or South…
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Milojko Spajic, Prime Minister of Montenegro, was revealed as an early investor in Terraform Labs, co-founded by Kwon Do-hyung (Do Kwon). A filing with the U.S. Securities and Exchange Commission (SEC) lists Spajic as the 16th investor in Terraform Labs, purchasing 750,000 luna coins at 10 cents each in April 2018. This revelation raises concerns…
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A Montenegro appeals court has reversed an order to extradite Do Kwon, the cryptocurrency entrepreneur behind Terraform Labs, to South Korea. Kwon is wanted for his alleged role in the company’s collapse, which caused a $40 billion loss and impacted global crypto markets. Both South Korea and the U.S. have sought his extradition on fraud…
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On Tuesday, Montenegro’s appeals court overturned the extradition request for Terraform Labs co-founder Do Kwon. This reversal follows reports that Justice Minister Andrej Milovic had informally agreed to the extradition. Kwon to Remain in Montenegro, Decision Lies With Justice Minister For the time being, Kwon is set to stay in Montenegro, as the Appeals Court…
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Source: Reuters The Appellate Court of Montenegro has accepted an appeal by Do Kwon’s attorneys – revoking the High Court’s decision to extradite the Terraform Labs’ founder to either South Korea or the USA. Therefore, the Appellate Court has annulled the decision of the Higher Court in the country’s capital of Podgorica. It returned the…
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Law enforcement officials in Switzerland reportedly seized approximately $26 million in bitcoin and other cryptocurrencies, believed to be linked to Terraform Labs and its co-founder, Do Kwon. Local media in South Korea revealed that the funds were confiscated from Sygnum, a crypto bank based in Zurich. The U.S. Securities and Exchange Commission is said to…
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Ripple says the “in principle” approval will help scale its “On-Demand Liquidity,” the service it uses to source XRP liquidity to customers. Blockchain-based payments firm Ripple has obtained in-principle regulatory approval from Singapore’s financial regulator to offer digital asset payments and token products in the city-state. Ripple confirmed the approval from the Monetary Authority of…
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Montenegro’s court has determined that Do Kwon, the co-founder of Terraform Labs, is guilty of using a counterfeit Costa Rican passport. As a result, he has been sentenced to four months in jail for the offense. Do Kwon Sentenced to 122 Days in Prison, Defendant Has 8 Days to Appeal According to the Montenegrin court,…
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Terraform Labs co-founder Do Kwon was found guilty of using fake passports in a court in Montenegro on Monday. Kwon along with Terraform Labs’ former Chief Financial Officer Han Chong-joon will serve four months in prison each, according to a statement released by the Podgorica Basic Court. … Read More: Terraform Labs Co-Founder Do Kwon Found…
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The Terraform Labs co-founder is out on bail after a successful appeal in Montenegro but will be closely monitored until his next court appearance. Terraform Labs co-founder Do Kwon has been granted bail in Montenegro after an appeals process by prosecutors was dismissed by a Montenegrin court on June 2. According to an official release…
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